Toromont Industries (TSE:TIH – Free Report) had its price target cut by National Bankshares from C$135.00 to C$132.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.
TIH has been the subject of a number of other research reports. National Bank Financial downgraded shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada boosted their price target on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Scotiabank set a C$136.00 price objective on Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. BMO Capital Markets raised their price target on Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. Finally, TD Securities increased their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Toromont Industries has an average rating of “Hold” and an average target price of C$135.00.
Read Our Latest Research Report on Toromont Industries
Toromont Industries Stock Down 0.3 %
Toromont Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s dividend payout ratio is presently 30.62%.
Insider Activity
In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Insiders sold a total of 4,500 shares of company stock valued at $554,864 over the last quarter. Company insiders own 0.27% of the company’s stock.
Toromont Industries Company Profile
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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